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Documentary Collections |
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Documentary collections Trade transactions handled on a draft basis. Documentary Collections International transactions in which banks act on behalf of the importer and exporter to collect payment for a good. The exporter presents the appropriate documents to a bank in his/her country, which forwards them to a bank in the importer's country. This bank presents the documents to the importer and accepts payment, which it then forwards back to the first bank. The banks have no responsibility in a documentary collection except to fulfill instructions of the importer and exporter; that is, they make no guarantees of payment. See also: Documents against payment, Documents against acceptance. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Johnson bases her arguments upon a variety of solid primary-source documentary collections as well as a thoroughly perused secondary literature. Alternative products to letters of credit, such as documentary collections and trade-related guarantees, are also discussed. The solution, comprised of Import/Export Letter of Credit, Open Account, Standbys, Purchase Order Processing, Documentary Collections, and Reports modules, offers a number of key features including: |
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